Future Tech II Acquisition, a blank check company targeting the disruptive technology sector in the US, filed on Thursday with the SEC to raise up to $100 million in an initial public offering.
The New Rochelle, NY-based company plans to raise $100 million by offering 10 million units at $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50. At the proposed deal size, Future Tech II Acquisition would command a market value of $130 million.
The company is led by CEO and Chairman Yuquan Wang, the Founding Partner of Haiyin Capital. The company plans to target the disruptive technology sector in the US, including artificial intelligence, robotic process automation, and any other related technology innovations market.
Future Tech II Acquisition was founded in 2021 and plans to list on the Nasdaq under the symbolFTIIU. EF Hutton is the sole bookrunner on the deal.